42AI Jsc.nc Kaz 48s

RNS No 3617k
GRAFTON GROUP PLC
7th August 1998


GRAFTON GROUP PLC

Grafton Group Plc announces that on Thursday 6 August 1998 its subsidiary
British Dredging Plc disposed of its joint venture interest in British
Dredging Aggregates Limited to RMC Group Plc (the other partner in the joint
venture).

British Dredging Aggregates Limited is a Company whose principal activity is
dredging and selling sea dredged aggregates.

Following receipt of a final dividend of STG#1.7 million from British Dredging
Aggregates in August 1998, British Dredging Plc sold its entire holding of
50% of the issued share capital of British Dredging Aggregates for a cash
consideration of #4.05 million paid on 6 August 1998.

The cash received on completion will be used by the Group to refinance
existing bank facilities.

At 31 December 1997, the net assets of British Dredging Aggregates Limited
were #2.438 million and in the year 1997 the Company reported a profit before
tax of #1.595 million. British Dredging Plc consolidated #842,000 of this
profit before tax (including its management fee) in its Group consolidated
accounts for the year 1997.

Enquiries:

Mr Michael Brown                         +44 (0) 1222 388666
Chairman
British Dredging Plc


Mr Norman Kilroy                        +353 (0) 1 295 3377
Managing Director
Grafton Group Plc

END

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